The UAE banking system’s total assets increased by 17.1 percent to AED5.3 trillion at the end of 2025, while the loan portfolio expanded by 17.8 percent, primarily driven by increased domestic lending, particularly across the retail and private corporate segments.
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About 80% of organisations expect AI spending to increase over the next two years, yet more than half struggle to operationalise the business knowledge AI needs to deliver business value, finds a new study.
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Shipping through the Strait of Hormuz slowed to a near standstill over the weekend following attacks on tankers, underscoring the growing risks to one of the world's most important energy routes, even as oil prices remained relatively steady amid the lack of progress in US-Iran peace talks.
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Uncertainty over the future of the Strait of Hormuz deepened on Saturday as the United States and Iran traded conflicting claims over control of the strategic waterway, while commercial shipping remained severely disrupted and fresh attacks added to mounting concerns over the security of Gulf trade.
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Oil prices are climbing once again, and with them, fears that inflation could make an unwelcome return. Renewed tensions between the US and Iran have shifted investors' attention back to the impact of higher energy costs on the global economy, said a leading global market strategist.
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Saudi Energy (formerly the Saudi Electricity Company) has announced the signing of an agreement to deliver electricity supplies to the Expo 2030 Riyadh site, thus marking a key step in the project's continued progress as it moves into the development phase toward hosting the gala World Expo event.
Bahrain's national carrier Gulf Air has announced that it will offer tailored travel packages combining flights, accommodation, airport transfers and race experiences for passengers travelling to capital Kuala Lumpur for the Formula 1 Gulf Air Bahrain Grand Prix 2026 in Malaysia.
Iran called on the US to accept defeat while President Donald Trump blasted Tehran as 'very evil' and told Americans to brace for continued high fuel prices as progress toward peace talks and oil tanker traffic through the strategic Strait of Hormuz gateway remained halted, said a report.
Bahrain's Eskan Bank has invited bids from leading contractors for Madinat Salman Community Development Phase II project. The projects cover a central market, a supermarket and a sports facility - featuring two football fields and two drive-through buildings - with a combined BUA of 5,231 sq m.
Qatar-based JTA International Investment has signed a long-term strategic partnership with British group Watt Electric Vehicle Company to set up its first EV manufacturing plant where the duo will jointly design and manufacture a new generation of e-vehicles specifically for the GCC region.
The Dubai Department of Economy and Tourism (DET) has announced a last call for residents to register for ‘A Dubai Invite’, following exceptional demand that has seen the programme’s capacity increase three times since its launch on July 20.
Wison Engineering has been awarded the $3.9 billion engineering, procurement and construction (EPC) contract for Phase 2 (New Natural Gas Processing Train at Habshan) of the Rich Gas Development (RGD) Project by ADNOC Gas, the gas-processing subsidiary of Abu Dhabi National Oil Company (ADNOC), in addition to a 220KV switch station.
The 2026 – 2027 Riyadh Racing Season will offer a total of SAR236.3 million ($62.95 million) in prize money across 50 race days over six months, the Jockey Club of Saudi Arabia (JCSA) has announced. Out of this, SAR197.8 million will go towards Major Cups.
Two ADNOC vessels were attacked while transiting the Strait of Hormuz on Thursday, adding to growing tensions in the strategic waterway as the United States prepares tougher economic measures against Iran.
Diriyah Company has signed a SAR2 billion ($533 million) financing agreement with Arab National Bank to support the development of branded residences within Diriyah, its flagship project to transform an ancient city near Riyadh.
John Crane, a global leader in flow-control technologies and an innovator in solutions for rotating equipment, and a business of Smiths Group, has renewed a long-term agreement to improve equipment reliability at a major refinery in Bahrain.
UFC, the world’s premier mixed martial arts organisation, in partnership with the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), returns to Abu Dhabi with UFC 333, bringing another unforgettable night of elite competition.
WSP, one of the world’s leading professional services consulting firms, has appointed Dincer Mete as Director of Infrastructure, Middle East. Based in Riyadh, Dincer will support the continued growth and delivery of WSP’s Transport & Infrastructure business across the region.
About 80% of organisations expect AI spending to increase over the next two years, yet more than half struggle to operationalise the business knowledge AI needs to deliver business value, finds a new study.
RM Sotheby’s, the world’s largest collector car auction house by total sales, has announced the sale of the exclusive Ferrari Luce Tailor Made, “Chassis 0,” for $40 million during The Monterey Auction, with 100 percent of the proceeds benefiting charitable initiatives through The Ferrari Foundation.
Dr Shamsheer Vayalil, Founder, Chairman and Chief Executive Officer of Burjeel Holdings, has joined the Executive Board of the World Economic Forum’s Digital Healthcare Transformation (DHT) Initiative, bringing a health-system operator perspective from the Middle East to a global platform shaping the next phase of healthcare transformation.
Aluminium Bahrain (Alba), the world's largest aluminium smelter on one site, has announced two key promotions in managerial section - S. Abbas S. Baqer has been named Manager Calciner & Marine, while Ali Aseeri has been elevated to the post of Manager Engineering & Projects.
ARMAF, the global fragrance powerhouse behind one of the world’s most celebrated fragrance collections, has announces acclaimed actor, producer and entrepreneur John Abraham as the global brand ambassador for its Club De Nuit Intense Overdose brand.
The UAE banking system’s total assets increased by 17.1 percent to AED5.3 trillion at the end of 2025, while the loan portfolio expanded by 17.8 percent, primarily driven by increased domestic lending, particularly across the retail and private corporate segments.
About 80% of organisations expect AI spending to increase over the next two years, yet more than half struggle to operationalise the business knowledge AI needs to deliver business value, finds a new study.
RM Sotheby’s, the world’s largest collector car auction house by total sales, has announced the sale of the exclusive Ferrari Luce Tailor Made, “Chassis 0,” for $40 million during The Monterey Auction, with 100 percent of the proceeds benefiting charitable initiatives through The Ferrari Foundation.
PUBG MOBILE, one of the world's most popular mobile games, today announced a new collaboration between its World of Wonder (WOW) platform and UGC games studio Do Big Studios, introducing an all-new experience created exclusively for WOW.
LAVA (Laboratory for Visionary Architecture), a global network practice with bases in Germany and Australia, has been appointed Custodian of the Expo 2030 Riyadh Master plan, thus marking a significant new phase as the project transitions into detailed design and implementation stage.
